KeyCorp (NYSE:KEY) Lowered to Hold at Jefferies Financial Group

Jefferies Financial Group cut shares of KeyCorp (NYSE:KEYGet Rating) from a buy rating to a hold rating in a report issued on Monday morning, MarketBeat.com reports. Jefferies Financial Group also issued estimates for KeyCorp’s Q2 2022 earnings at $0.60 EPS, Q3 2022 earnings at $0.62 EPS, Q4 2022 earnings at $0.62 EPS, FY2022 earnings at $2.35 EPS, Q1 2023 earnings at $0.52 EPS, Q2 2023 earnings at $0.56 EPS, Q3 2023 earnings at $0.58 EPS, Q4 2023 earnings at $0.62 EPS and FY2023 earnings at $2.30 EPS.

A number of other brokerages have also issued reports on KEY. Bank of America raised KeyCorp from an underperform rating to a buy rating and increased their price objective for the stock from $25.00 to $27.00 in a report on Wednesday, December 15th. Citigroup reissued a neutral rating on shares of KeyCorp in a report on Thursday, March 24th. Barclays increased their price target on KeyCorp from $24.00 to $26.00 in a research note on Monday, January 3rd. Odeon Capital Group raised KeyCorp from a hold rating to a buy rating in a research note on Friday, January 7th. Finally, UBS Group began coverage on KeyCorp in a research note on Wednesday, January 12th. They set a buy rating and a $32.00 price target for the company. Six analysts have rated the stock with a hold rating, eight have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of Buy and a consensus price target of $27.21.

Shares of KeyCorp stock opened at $20.58 on Monday. The company has a current ratio of 0.79, a quick ratio of 0.78 and a debt-to-equity ratio of 0.78. The business’s 50 day simple moving average is $23.85 and its 200-day simple moving average is $23.79. The stock has a market capitalization of $18.94 billion, a price-to-earnings ratio of 7.83, a PEG ratio of 0.52 and a beta of 1.32. KeyCorp has a twelve month low of $17.90 and a twelve month high of $27.17.

KeyCorp (NYSE:KEYGet Rating) last issued its quarterly earnings data on Thursday, January 20th. The financial services provider reported $0.64 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.07. KeyCorp had a return on equity of 15.93% and a net margin of 33.32%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $1.80 billion. During the same period in the prior year, the company posted $0.56 EPS. The business’s revenue for the quarter was up 5.5% compared to the same quarter last year. Sell-side analysts predict that KeyCorp will post 2.18 earnings per share for the current year.

In other news, Director Carlton L. Highsmith sold 5,362 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was sold at an average price of $22.86, for a total transaction of $122,575.32. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.54% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. lifted its holdings in shares of KeyCorp by 2.1% in the fourth quarter. BlackRock Inc. now owns 83,634,140 shares of the financial services provider’s stock valued at $1,934,456,000 after purchasing an additional 1,682,794 shares in the last quarter. Capital International Investors lifted its holdings in shares of KeyCorp by 8.6% in the fourth quarter. Capital International Investors now owns 83,201,801 shares of the financial services provider’s stock valued at $1,924,458,000 after purchasing an additional 6,586,364 shares in the last quarter. Boston Partners raised its holdings in shares of KeyCorp by 4.0% during the third quarter. Boston Partners now owns 33,333,410 shares of the financial services provider’s stock worth $720,761,000 after acquiring an additional 1,272,301 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of KeyCorp by 3.8% during the fourth quarter. Geode Capital Management LLC now owns 17,992,418 shares of the financial services provider’s stock worth $415,188,000 after acquiring an additional 662,049 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in shares of KeyCorp by 9.0% during the third quarter. Invesco Ltd. now owns 15,187,118 shares of the financial services provider’s stock worth $328,347,000 after acquiring an additional 1,255,892 shares in the last quarter. Institutional investors own 82.83% of the company’s stock.

About KeyCorp (Get Rating)

KeyCorp operates as the holding company for KeyBank National Association that provides various retail and commercial banking products and services in the United States. It operates in two segments, Consumer Bank and Commercial Bank. The company offers various deposits, investment products and services; and personal finance and financial wellness, student loan refinancing, mortgage and home equity, lending, credit card, treasury, business advisory, wealth management, asset management, investment, cash management, portfolio management, and trust and related services to individuals and small and medium-sized businesses.

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